Buy to let- furnished or not?

[JinglinghellsBells]

Sounding out. If you were buying to let ( most likely a 2-bed flat in a commuter belt, close to a station) would you think it was more desirable if it was furnished or unfurnished? Most likely tenants would be youngish professional couples, singles or two sharers.
Pros and cons?

By furnished I mean basics like white goods, beds, sofa, dining table etc.

I have a flat I let it has carpet, curtains and a fitted kitchen. I think furnished could be the cause of more problems, damage to furniture and having to buy things that comply with up to date regulations. Also if tenants don’t want some items you would have to store them.

I know. I appreciate the possible damage. On the other hand, I know my own DCs when renting as young professionals found it hard to scrape together more funds to buy even basic items. I wondered if furnishing it very tastefully to appeal to professionals commuting might bring a slightly higher rent too?

I have two properties which I let unfurnished. One has white goods, the other doesn't. No problems getting either of them let - young professionals in both properties.

Interesting. I wonder if it's different in the SE where the commute is to London? Rents are high and having to buy furniture can be an added cost for young tenants.

Part furnished and flexible - different tenants will have different things they want.

I don’t know anyone in London who rented totally unfurnished ie without white goods so I would 100% provide those.

Speak to your agent and check out comparable prices of nearby flats both furnished and unfurnished.

I let furnished. And very tastefully furnished at that with matching cushions, rugs and pictures etc. Young professionals love my flats and often comment how they look like a 5* hotel. When I hold viewings, some people have own furniture and want to use it but most like it all kitted out. If you choose to let unfurnished, the property will just appeal to people who want to put their own stamp on the place.

We only rent unfurnished but with white goods provided by landlord. Much prefer to buy my own mattresses and furniture. Makes it feel more like my own home.

I rent 2 bedrooms in zone 6

We let furnished. Our flat is close to a hospital though and we let to visiting Drs on rotation.

Do you have somewhere to store furniture I it's not needed, and can you charge enough rent to cover the costs of the furniture? And are you willing to do it even though you now can't charge any more than 5 weeks deposit, which might not cover the cost?

I work in an apartment block which the 30 apartments are all let furnished. However, with economies of scale and the size of the apartments, it worked out better- a pine bedroom set, 2 sofas, a table, potentially a coffee table or desk, lamp, mirror and cushions. Total cost is maybe £500-700, and they seem to be lasting 3-4 years. We charge an extra £50 a month rent for a furnished apartment. White goods are built in regardless.

In contrast, when letting a house, I couldn't make it financially viable to do- the market rent for the area had a ceiling price, and furnishing the place couldn't alter that. The profit margins are much smaller, and a sofa/ fridge freezer needing replacing would be a significant chunk of that profit. Plus, the fact that the deposit only covering just over 1 month's rent meant that all it would take is someone to leave with no notice and break one item if furniture to take the full deposit, anything extra would be a loss.

notatwork, that's the only situation I would do it in- if it were very close to the hospital and doctors were my target market. Ideal situation really, you know you're guaranteed to be let August- August every year!

I have just one rental flat, in London - not by any means in one of the most expensive areas, but with reasonable public transport fairly close. My target market was young professionals, either a couple or 2 sharers, and I furnished it with things I (or my dds) would be happy with, not the cheapest. Some of it was good quality 2nd hand.

It's still a place I'd be happy to live in myself, and maybe we've just been lucky, but so far (after over 6 years) it's paid off - it let very quickly first time and tenants have generally stayed a long time and the place has been very well cared for.
Might add that we attend to any repairs/maintenance asap, and have kept the rent competitive.

My idea was to do it very nicely like @JoJoSM2 described. In my personal experience of family and friends, none of them had furniture they wanted to move to a new rental, having left uni or a shared house/flat.

One of my DCs insisted on buying their own mattress but the bed frame was already there.

My feeling is that most young people who rent are not looking to buy cheap furniture that may be fine for a rental, but certainly not what they'd want when they buy their own home.

I need to do the maths but would reckon on a tenant having to fork out at least around £1K (cheapest ranges unless charity shops) for 2 beds, sofa, dining table and chairs, bookcase, coffee table, and a couple of wardrobes.

Where I am thinking of buying, average rents for a 2-bed flat are around £950 and slightly more for furnished.

I find that people look after things and they don't need replacing often at all. As I charge a little premium for the lovely presentation, the tenants are often people who are House-proud and look after things. It's also the little things at viewings, e.g. someone immediately taking their shoes off is a good sign.

What is the norm for the area? Where we live now most flats are rented out unfurnished (except for dedicated student houses/flats whihc tend to be sparsely furnished) but in London practcially all places were let furnished. Ask a local agent.

I rented in London after graduation, didn't look at anything unfurnished. The last thing I wanted to do was buy inexpensive furniture which I probably wouldn't want when we finally ended up buying. Also renting isn't particularly secure and the cost of moving furniture if the landlord asks you to move on in the year is too high. My landlord provided high quality furniture which we looked after as we appreciated it.